If your small business is growing, it may be time to hire an accountant to help you reach your short and long-term financial goals. While you could hire a new employee for this role, it may be more fiscally responsible for outsourcing your accounting.
It takes the average small business between one and four months to find a qualified candidate. That wastes time. Outsourcing your accounting saves you money as you don't have to worry about paid time off, sick days, vacation, or medical.
Here are five tips for hiring outsourced accounting services for your growing business.
1. Communicate Clear Expectations
Take a look at your financials and figure out the most time-consuming part of your accounting process. As a business owner, this is your opportunity to delegate responsibilities and take issues off your plate.
Additionally, have a set of short and long-term goals you would like to meet as a business. Consider quarterly, bi-annually, and annual targets.
Know your accounting frustrations ahead of time. Have clear financial goals. You'll get the most out of your outsourced accounting services.
2. Communicate Your Needs
Outsourcing your accounting only helps if your most pressing needs are met. Communicate clear expectations and needs with your outsourced accounting services. That way, you'll be in a better position to get the most out of the service.
The last thing you want is to outsource accounting services for things you could do yourself, so communicate your needs and be clear with your expectations.
3. Experience Over Pricing
When outsourcing your accounting to a service provider, you don't want to hire a service based on price alone. Think about experience.
Having a cheap provider who doesn't have experience in what service you're requesting and charges by the hour doesn't help you, because it may take them twice as long as a more expensive provider with more experience.
Go for experience first, and you'll know that the service you receive is done quickly, efficiently, and error-free.
4. Think About Security
Be sure to check references, ask around, and check online reviews and testimonials. While it's less likely that an outsourced accounting service is fraudulent, you want to make sure you do your due diligence.
Protecting your data is top of mind when owning a business, so make sure the service you're entrusting with your financials are reputable, professional, and have a spotless reputation. Consider a reputable provider to keep your finances in order.
5. Check-in Frequently
While clear expectations, communicating your needs, experience, and safety are important, you must check-in with your service provider frequently. Set a schedule to continually follow-up on established short and long-term goals.
Have a list of questions prepared, so the meetings aren't just a formality, but have responsible decision-making and planning involved each session. That will ensure that your outsourced provider takes these matters seriously and is well-prepared to address your financial needs and concerns.
Need a Hand With Outsourced Accounting Services?
If you're looking to grow your business, track your finances, and reach your short and long-term financial goals, it makes sense to find reputable outsourced accounting services to address financial needs.
